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Vendor Ratings Agency

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Elite Member
Wodonga Australia
Trading Experience: Intermediate
Platform: NT, MT4
Broker/Data: NT
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Linds's Avatar
Posts: 366 since Jul 2010
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Vendor Ratings Agency

Since there is a LOT of concern about the quality, ethics and value of trading vendors...and since it is such an unregulated field....why not create a ratings process/entity for vendors. This could be very useful not only for prospective clients but for the vendors themselves if they wish to be be demonstrably seen as offering value and credibility.

Such a body would need to be carefully planned so that itself could not be subject to claims of bias and poor ethics.

So a set of objective, evidence based criteria and standards would need to be chosen to direct the processes and focus of the entity. Any assessment would have to be based on:

actual longitudinal experience of the products being assessed ( by experienced traders)
assessment of the vendors trading background
assessment of the quality and reasonableness of the marketing content

The output of such a process could be a detailed report of the key areas of focus and ultimately a rating such as A, B, C or RUN AWAY NOW.

Done well such an entity may even find a market for itself and would start the conversation about professional standards in the trading vendor universe

It would require significant resourcing to do this well.

I wonder what others think about this?

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